Note Ban logic: Clean Money, return of the raid brigade

The tax department has been creating psychological profiles of select people on its radar since demonetisation

One of the first justifications given by Prime Minister Narendra Modi for knocking 86 per cent of the Indian currency out of circulation last year was curbing the dominance of black or unaccounted money in the economy. While the return of a significant amount of money into the banking system might have raised doubts over the black money motive, there seems to be growing enthusiasm among income-tax investigators to raid those suspected of possessing unaccounted money. However, the rise in the number of raids hasn’t seen a corresponding increase in the money seized.
 
Tax investigators searched over a thousand